[Written in partnership with Supernewsroom, but the editorial team had full control over the content.]
Within one year of operation, live online training platform ReSkills secured an investment of US $ 1.5 million (approximately RM6.2 million).
Funded by a group of private angel investors, it was led by JSF Platinum to help stimulate ReSkills’ growth plans and stabilize its expansion in the SEA region. Currently, ReSkills has a presence in Indonesia, Thailand and Vietnam, with plans to capture the Indian market in December.
âThese are the developing countries in the region with a huge population of young people. They are thirsty to learn and grow to improve their skills, âReSkills CEO Jin Tan (Jin) told Vulcan Post.
With the funds, Jin plans to improve and further develop the edutech platform. The team will also focus on its marketing efforts to acquire more users and recruit more coaches.
A recap of the lesson
The last time we wrote about ReSkills, I was initially skeptical of the training platform; the courses offered reminded me of what I have seen offered by marketing gurus.
Jin was quick to ease my suspicions. He ensured that the 100 SEA region ReSkills coaches are all handpicked and each has a minimum of 10 combined years of practice and training experience in their sector. To date, they have 169 coaches in total.
In addition, the platform was launched to help corporate trainers edit their content online. This decision was further overturned by the realization that young people were eager to improve themselves, but did not know where to start.
Thus, ReSkills was founded as a live learning and training platform where seminars are held in real time so that students can interact with coaches as they have questions. Called OnLIVE, classes are available daily, and users are notified of upcoming classes two weeks in advance so they can plan ahead.
âWe want our learners to have important and actionable lessons from each session so that they can use it to immediately improve their lives in addition to getting the necessary micro-accreditations from ReSkills,â he said.
The platform uses a subscription model billed annually. The last time we broke down the fees, we found that subscribers can expect to pay between RM 1.70 or RM 3.20 per day to access content and speak to industry experts.
âWe firmly believe that education is a basic human right and should be accessible and affordable for all,â said Jin. âThese funds are a testament to the investment community that ReSkills can accomplish this mission. With this pandemic, the trend of online learning has also become a new dimension. “
Today, the platform has succeeded in re-qualifying and developing 100,000 registered learners, thereby stimulating their professional and personal growth.
But it took a few moments of testing
Such rapid expansion has not come without challenges, especially amid global lockdowns. In fact, Jin has named travel restrictions as one of ReSkills’ biggest hurdles for his business.
It was in addition to being incapable to open a physical office and need to localize the platform by adapting to various cultures.
Finding suitable country managers was the first solution for the team who also addressed the whereabouts issue afterwards. Each country manager would be responsible for help manage operations as well as hiring and recruiting trainers.
Despite the long process of organizing virtual meetings, they were able to find their managers through referrals and job portals. To localize ReSkills in each country, the platform is integrated into multiple languages.
As the pandemic gradually improved, Jin reported that ReSkills now operates a physical headquarters. The team is currently working with partners who already have a physical office while also adapting to a more efficient remote working methodology, befitting of a tech company, after all.
Growth catalyzed by the pandemic
The lockdowns marked a huge opportunity for edutech to grow worldwide. However, it has also slowed down many growth plans for many companies.
This was not the case for ReSkills, physical expansion aside. Capitalizing on the boom in online learning, the training platform was able to grow digitally faster. Being a product born out of a pandemic, Jin believes his training platform is suitable even in a post-pandemic world.
Therefore, he set a target for ReSkills to reach 100 million learners by 2025. The ambitious number itself surprised us, and doing some math confirmed our hypothesis that ReSkills is expected to achieve explosive growth every year. year to achieve it.
Based on this growth trajectory, ReSkills’ goal would be to reach around 2.5 million users over the next 12 months. Confirming this calculation, Jin justified that the platform was on track to meet its user acquisition projections.
âFor a year (December 2020), we have had an ambitious goal of reaching 100,000 registered users by the end of December 2021 (which we have). We are targeting 1 million by June 2022, 5 million by December 2022 and 10 million by June 2023, âsaid Jin.
“It’s a difficult growth path,” he acknowledged, but said it would be made possible through synergistic collaborations with strategic partners.
With recent funding, the specific improvements that users can expect on the platform include more exciting features to improve the user experience, thereby ensuring user loyalty.
In the backend, ReSkills is working to expand its cloud server and improve its cybersecurity mechanisms. The team will also improve their big data management systems to understand user behavior for AI analysis and build their own e-learning video conferencing system.
- You can find out more about ReSkills here.
- Read our previous coverage of ReSkills here.
Featured Image Credit: The ReSkills Team